Rupee losses 84 paisas to hit nine-month low against dollar

KARACHI: The rupee fell 84 paisas to touch a nine-month record low of 162.32 against the dollar on Friday due to the demand pressure for the foreign currency, as the market opened after the Eid holidays.

The exchange rate closed at Rs161.48 on July 19, 2021 in the interbank foreign exchange market.

The government had announced Eid-ul-Azha holidays from July 20 to July 22, 2021.

The currency dealers said due to the Eid holidays the demand for the dollar increased, as importers placed a higher number of orders to their foreign sellers.

The currency dealers expressed the hope that the inflows of workers remittances and export receipts would help the local currency make recovery in the coming days.